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Completed a 3 year dreaded task!

March 21st, 2009 at 07:57 pm

FEELIN THE BLUES



If anyone knows when the local chapter of the Procrastinators club is meeting please do let me know!

After years of not filing taxes, I finally sat down and did all back taxes for the years I didn't file. The main reason for not filing was that in 2005 while working at Olive Garden, not enough state or federal tax was withheld from my paychecks. In 2005 I earned about $23,00.00 in gross income and only $380.00 was taken out for federal and ONLY $30.54 for state tax. Now the state of Virginia did the favor of doing my taxes fo me and the tax owed for that year is $1.325.12. Fortunaly now that I've taken hold of my finances ,I called them as soon as I recieved the bill and made payment arrangements.

Now I'am going to wait and see what the Irs will work out and the State of Virginia as to my other years owed are concerned.

List of Returns Outcomes:
2005- Federal $1,524.00 State $1,325.12
2006- Federal $(193.00) State $ 195.00
2007- Federal $(414.00) State $ (21.00)
2008- Federal $(545.00) State $ 10.00
The amounts shown in ($0.00) are refunds.

I'm hoping the refund amounts will offset some of the costs of late fees and interest charges. So I'm waiting for checkmate to be called so to speak.



8 Responses to “Completed a 3 year dreaded task!”

  1. M E 2 Says:


    Because you do owe the IRS for 2005, they will keep all your federal refunds and will bill you for the difference. (including penalty & interest)

  2. Ima saver Says:

    Glad you are finally get it all cleared up! I use to work as a waitress for many years!

  3. fern Says:

    I'm sure you will be glad when that debt is put to bed. I have a friend who for years was behind in paying previous years taxes, and she worked as an accountant! But procrastination was her middle name.

  4. lizajane Says:

    Congratulations for getting it all done. Even if there are still payments to be made and all that, it has to be a HUGE weight off your shoulders to have taken care of the filing.

  5. frugaltexan75 Says:

    Good for you getting your taxes caught up. I hope the fees and penalties aren't too big of a bite.

  6. Susan Says:

    Good for you!!!! My DBF hasn't filed for a few years more than you..It is the one task that just keeps getting pushed to the bottom of the pile... Well- after a few months of digging around, I found most of his old W-2's and filing the taxes are now at the top of the list... so far he should have received a refund for most of the years but with penalties it will probably be a wash....


    Susan

  7. oceansluver78 Says:

    A wash is something I could only wish for! Thanks for the kinds worsd Susan and Texan!

  8. L Saver Says:

    What a great facial expression! Way to finally get the task done!

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